New Millennium Iron Corporation announced that the completion of drilling for the year 2012. Drilling was carried out at several of its properties in the Millennium Iron Range.
The program started on March 2nd and was completed on October 22nd, 2012. During this period 153 holes were drilled for a total of 17,312.6 million. The areas drilled in 2012 are shown in Figure 1.
Additional drill results of the Howells Lake area, comprising the 100% NML owned Howells Lake property and the 80% (1) owned Howells River North, now confirm that this area is a stratigraphic continuation of the LabMag deposit and connects to the KéMag deposit in Québec.
The combined area of Howells River North and Howells Lake is 24.5 kilometer with varying thicknesses due to a low angle thrust fault in the east side.
Naskapi Labmag Trust through LabMag Limited Partnership owns the other 20%.
| Property/Area | Location | No. of holes | Total |
| Perault Lake | MIR | 48 | 3,890.80 |
| Sheps Lake | MIR | 23 | 1,920.10 |
| Howells River N | MIR | 10 | 1,114.50 |
| Howells Lake | MIR | 43 | 6,561.70 |
| KéMag East | MIR | 24 | 3,315.50 |
| Lac Keough | East of MIR | 1 | 102 |
| Lac Thérèse | East of MIR | 1 | 102 |
| Wishart Creek | East of MIR | 3 | 306 |
| Total | 153 | 17,312.60 |
In million
Mr Dean Journeaux CEO of NML said that "These results are very exciting because they confirm the presence of continuous mineralization from Perault Lake to KéMag, for an impressive strike length of 60 kilometer. Not only is this a significant increase in the extent of mineralization but the quality is high and comparable to that of the LabMag and KéMag mineralization. Our exploration program continues to deliver promising results and we now see that the Howells Lake area along with Sheps and Perault all have the potential to become major deposits in their own right.”
Mr Journeaux said that “That would not only considerably increase our significant resource base, but also provide us with future development and operating options. We have also drilled on the east side of KéMag deposit in order to delineate a larger mineralized zone in that area. We will continue to issue drill results as they become available, and we plan to publish a NI 43-101 compliant resource estimate in Q1 2013."
